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Forex Market Analysis

The NZD/USD pair fell during the course of the session on Tuesday, crashing below the 0.75 handle. We recognize that there is support below though, so really we need to break down below the hammer from a couple of sessions back in order to feel comfortable selling. Regardless, we have no interest in buying the New Zealand dollar as the New Zealand dollar itself is so sensitive to commodity prices, and that of course should continue to weigh upon the value of the Kiwi going forward. Also, you have to keep in mind that the US dollar is the strongest currency that we have been trading.

NZD/USD chart

NZDUSD Chart

 

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